Apogee Enterprises, Inc. (NASDAQ:APOG) Q3 2024 Results Conference Call December 21, 2023 9:00 AM ET

Company Participants

Jeff Huebschen - VP, IR

Ty Silberhorn - CEO

Matt Osberg - CFO

Conference Call Participants

Chris Moore - CJS Securities

Julio Romero - Sidoti & Company

Brent Thielman - D.A. Davidson

Operator

Good day, and welcome to the Q3 2024 Apogee Enterprises Earnings Conference Call. [Operator Instructions]. As a reminder, this call is being recorded.

I would now like to turn the call over to Jeff Huebschen, Vice President, Investor Relations. You may begin.

Jeff Huebschen

Thank you, Michelle. Good morning, everyone, and welcome to Apogee Enterprises Fiscal 2024 Third Quarter Earnings Call. With me today are Ty Silberhorn, Apogee's Chief Executive Officer; and Matt Osberg, Chief Financial Officer.

I'd like to remind everyone that there are slides to accompany today's remarks. These are available in the Investor Relations section of Apogee's website. During this call, we will reference certain non-GAAP financial measures. Definitions of these measures and reconciliation to the nearest GAAP measures are provided in the earnings release and slide deck we issued this morning.

I'd also like to remind everyone that our call will contain forward-looking statements. These reflect management's expectations based on currently available information. Actual results may differ materially. More information about factors that could affect Apogee's business and financial results can be found in today's press release and in our SEC filings.

And with that, I'll turn the call over to you, Ty.

Ty Silberhorn

Thanks, Jeff. Good morning, and thank you for joining us today. Our team delivered another strong quarter with continued margin expansion, earnings growth and improved cash flow. Today, I'll discuss those highlights from the quarter, how execution of our strategy continues to drive improved performance, provide some comments on our end markets and discuss how we are positioning the company for the future. Then I'll turn it over to Matt for more details on the quarter and our outlook.

Let's start with the highlights, which are on Page 4 of our presentation. We delivered another quarter of strong earnings, margin expansion and cash flow performance. This was the second highest quarterly adjusted EPS in Apogee's history and follows the record adjusted EPS we delivered last quarter. While we are focused on driving revenue growth, we continue to demonstrate that we could deliver profit dollar growth and margin expansion even in an environment with low volume growth. Year-to-date, operating income dollars have increased 12% and operating margin improved by 150 basis points to 10.6%, which is above our current strategic goal of 10%.